Celltrion Reports Record Quarterly Sales of 1.145 Trillion Won and Operating Profit of 321.9 Billion Won in Q1

Operating Margin at 28.1%

Additional Cancellation of Treasury Shares Worth 100 Billion Won Approved

Celltrion achieved its highest-ever quarterly performance, driven by the global expansion of sales for five new biosimilars.

On May 6, Celltrion announced its preliminary consolidated results for the first quarter, posting sales of 1.145 trillion won and operating profit of 321.9 billion won. This marks the company’s largest-ever quarterly results. On the same day, the board of directors resolved to cancel all of the company’s treasury shares recently repurchased, valued at approximately 100 billion won.

Celltrion company logo image. Celltrion

Compared to the same period last year, sales increased by 36% and operating profit surged by 115.5%. The operating margin was 28.1%. According to the company, excluding the temporary costs associated with routine maintenance at its U.S. manufacturing facility during the first quarter, the operating margin would have been in the 30% range. The U.S. plant completed its routine maintenance in February and resumed normal operations; from the second quarter, contract manufacturing (CMO) and product validation for Celltrion’s own products are underway.

The five new biosimilars were the main drivers of this growth. Celltrion now offers 11 biosimilars in global markets, and sales of the new products released last year grew by 67% year-on-year. The combined sales of these new products reached 581.2 billion won in the first quarter, accounting for 60% of the company’s total product sales.

Omlyclo, launched in Europe in September last year, achieved a market share of 98% in Denmark, 80% in Spain, and 70% in the Netherlands within just over four months of its release. In the United States, the monthly prescription volume for Zympentra, an infliximab subcutaneous (SC) formulation, increased more than threefold year-on-year, while Stekyma recorded a market share of over 10% as of March this year (IQVIA).

The company identified several factors contributing to improved profitability: elimination of one-off costs following the merger, depletion of high-cost inventory, completion of development cost amortization, and improved production yield (titer).

The company also indicated the possibility of exceeding its annual targets of 5.3 trillion won in sales and 1.8 trillion won in operating profit. In the biosimilar industry, major tenders in Europe are concentrated in the second and third quarters, while initial supply typically occurs in the second half of the year, resulting in higher sales in the latter half. The SC formulation of Aptozma and Omlyclo are scheduled to launch in the U.S. market this year.

Celltrion plans to expand its biosimilar portfolio from the current 11 products to 18 by 2030 and to 41 by 2038. In the new drug segment, the company aims to increase the number of pipeline candidates to 20 by 2027, including four compounds—such as CT-P70—that have entered clinical trials, as well as additional candidates developed through bispecific/multispecific antibody and obesity treatment platforms. In the first quarter, Celltrion invested approximately 100 billion won in R&D expenses.

The cancellation of treasury shares is an additional measure following the company’s completion last month of canceling a total of 9.11 million shares (approximately 1.8 trillion won). Celltrion will immediately begin the cancellation process for the 488,983 shares acquired between April 23 and May 6.

This content was produced with the assistance of AI translation services.